[June 15, 2004]

Shareholders of mPhase Technologies Authorize an Increase in the Number of Shares of Common Stock

NORWALK, Conn. --(Business Wire)-- June 15, 2004 -- mPhase Technologies, Inc. (OTC: XDSL) announced today that its shareholders had authorized an amendment to the company's Certificate of Incorporation to increase the number of shares of common stock from the current level of 150 million to 250 million shares.


CEO Ron Durando recently provided a strategic update at a Wall Street Reporter Forum. A video of his presentation is available for online viewing at http://www.wallstreetreporter.com/videos/mPhase.html.

About mPhase Technologies, Inc.

mPhase Technologies Inc. develops and commercializes next-generation telecommunications and nanotechnology solutions, delivering novel systems to the marketplace that advance functionality and reduce costs. In telecommunications, the Company's mPhase TV+ platform cost-effectively and reliably delivers entertainment digital television, high-speed Internet access and traditional telephone service over existing copper telephone lines. mPhase also offers a growing line of innovative DSL component products, such as iPOTS, designed to help service providers lower the provisioning and operating costs associated with DSL. The company is bringing nanotechnology out of the laboratory and into the market with a planned innovative long, life power cell.

More information is available at the mPhase Web site at www.mPhaseTech.com. Investors may obtain additional information and subscribe to investor services by referring to the Investor Information section at the mPhase Web site.

Safe Harbor Statement

This news release contains forward-looking statements related to future growth and earnings opportunities. Such statements are based upon certain assumptions and assessments made by management of both companies in light of current conditions, expected future developments and other factors it believes to be appropriate. Actual results may differ as a result of factors over which the companies have no control.

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